Home Improvers Should Be Wary Of Tradesmen Touting Door to Door

Ratedpeople.com, the UK's largest match making service for home improvers and recommended tradesmen, has advised home owners not to consider tradesmen who use door to door methods of touting for work, and has suggested that residents take care when employing repair and maintenance workers.

More and more customers are being left out of pocket with poorly completed or unfinished jobs, as itinerant tradesmen, masquerading as professionals, approach home owners on their doorsteps posing as anything from local roofers to gardeners, trying to talk them into offering work.

Trading Standards has recently stated that it receives numerous complaints every year from home owners that have fallen foul of poor workmanship, inflated prices and even aggressive behaviour advising that care should be taken when employing repair and maintenance workers.

Indeed, government-endorsed TrustMark, has gone as far as to state that home owners should completely avoid workers who say they just happen to be in the area and try and talk them into a spur-of-the-moment decision.

However, Ratedpeople.com provides individuals with the means to avoid this, potentially very expensive, problem in the first instance. With a nationwide network of recommended tradesmen, from local builders to recommended bathroom designers, Ratedpeople.com has helped thousands of its users find a commendable tradesman within their local vicinity.

Ratedpeople.com looks to connect home owners and developers with interested local tradesmen who have been rated by their previous customers. The website aims to promote higher standards of home improvement, whilst creating an equal platform on which both businesses and consumers can communicate.

With over £30m in project value posted and monthly additions of more than 1,000 new tradesmen, Ratedpeople.com is the UK's largest match making service for home improvers and recommended tradesmen. The site has more than 55,000 unbiased ratings to date and ensures that tradesmen are only rated by actual customers.

PR Web

Breaking the Housing Crisis Cycle Requires Unique Approach, Says Cleveland Federal Reserve Bank

In its annual report, released today, the Federal Reserve Bank of Cleveland documents how the housing crisis cycle unfolded differently in its district than it did in other parts of the country. The Cleveland Fed also is proposing a multi-faceted approach to breaking the cycle that focuses on the interconnected nature of the problems that led to the crisis.

According to Federal Reserve Bank of Cleveland research, areas within Ohio, eastern Kentucky, western Pennsylvania, and the northern panhandle of West Virginia didn’t suffer from the crash of hyper-inflated housing prices, as happened in California, Florida, and other overheated housing markets. The underlying problem was over-lending to people in a region that was under stiff economic pressure long before the recession set in.

Too many people ended up in mortgages they couldn’t afford, and when the economy took a nosedive, many of them became delinquent and defaulted on their loans.

Those defaults led to a high number of foreclosures, which led to an oversupply of housing, which led to home prices depreciating and borrowers and financial institutions taking on big losses.

To break the cycle, the Federal Reserve Bank of Cleveland supports taking the following actions:

* Provide financial incentives to mortgage lenders and servicers to modify loans for borrowers in trouble
* Help troubled borrowers stay in their homes by converting them from owners to renters
* Beef up code enforcement and clear legislation for land banks to help local governments better manage properties left vacant by foreclosure
* Help banks and financial institutions recapitalize so they can lend with confidence

The Cleveland Fed’s research shows that each pressure point in the housing crisis cycle feeds off and affects others, which is why the regional reserve bank is advocating a coordinated approach. It also recognizes that the problem took a long time to develop and recommends that efforts to return the region to health be sustained over the long term.

Press

Zetabid to Auction 100 Homes in Southern California

Zetabid, the pioneering firm redefining home auctions in the U.S., today said it will sell approximately 100 bank-owned homes in Southern California on Saturday, May 16, 2009 at the Pomona Fairplex.

The auction, Zetabid's third in Southern California in the past eight months, will include the sale of single-family homes, multi-family homes and condominiums in Los Angeles, Riverside, San Bernardino, Orange, Kern and San Diego counties.

"The market for foreclosed residential properties in Southern California is as robust as we've seen it," said Bob Bellack, Chairman of Zetabid. "The strong demand for bank-owned properties is due to stabilizing housing prices, government stimulus programs and historically low interest rates. The confluence of these factors and the understanding that auctions are among the best ways to get a great property are likely to result in a strong turnout."

Over the past eight months, Zetabid has sold more than 1,000 homes in California, Florida and Arizona in 11 auctions. More than 4,000 people have participated, and many buyers have purchased homes for 50% of the list price at the height of the housing boom.

At the May 16 event in Pomona, Zetabid is expecting active bidding from first-time homebuyers. The federal government recently made it even more compelling to own a home for the first time by offering a tax credit of up to $8,000 to qualifying taxpayers who buy a home in 2009.

Source

Homebuyers Will Find Array of Bargains at Auction of Over 250 Detroit Foreclosures

In states like Michigan where foreclosures are abundant, buyers are eager to purchase bank-owned homes because they usually sell well below their market value. According to RealtyTrac, in March, Michigan reported the 9th highest foreclosure rate among the states, with 12,417 properties receiving filings. America's leading real estate owned (REO) auction firm, Hudson & Marshall will auction over 250 bank-owned homes in Detroit May 2nd and 3rd at 1:00 pm at the Doubletree Hotel Dearborn.

"We're seeing more owner-occupant buyers choosing to purchase foreclosures because they're great values in today's market," commented Dave Webb, Principal, Hudson & Marshall. "When buyers compare a home listed for sale with a comparable foreclosure in the same neighborhood, they're asking themselves why pay more for the same type of property," added Webb.

There is a wide selection of homes in the Detroit auction, valued from $1000 to nearly $400,000, for both investors and first-time homebuyers to choose from. All homes come with a clean, insurable title paid for by the sellers. Buyers will be required to make a $1,000 deposit with a certified check or cash on each property for which they are the winning bidder.

All homes being auctioned by Hudson & Marshall are sold "as-is" and buyers should inspect properties before placing any bids. Buyers may contact listing agents to make appointments to view homes. Complete property details and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172.

The Detroit auction also will feature Hudson & Marshall's Alliance Network Program, a community outreach initiative created to attract more buyers and tenants in search of affordable housing to its auctions. Hudson & Marshall has partnered with local organizations that will be on site during the auction to answer questions and provide resources to buyers.

National Faith HomeBuyers Program, a non-profit organization counseling families on homeownership, will refer buyers and tenants who have completed its program to the auction. The tenant referral program is designed to help connect investor buyers, purchasing homes at the auction, with tenants in need of immediate housing. Several lenders also will attend the auction to answer questions and assist buyers with their mortgage needs. Additionally, TCN Construction Group, a contracting firm and APD Solutions, a property management company will be available during the auction to offer their services to investors.

Prior to auction, buyers can purchase property online by visiting the website and clicking on the Bid-Now icon. Sellers typically respond to offers within 24 hours. This is a reserve auction, which means sellers have the right to accept, reject or counter any bid; however, in past auctions conducted by Hudson & Marshall, the majority of offers have been accepted.

Having sold over 70,000 homes for sellers in the past eight years, Hudson & Marshall of Texas, Inc is the most experienced, trusted leader in the REO auction industry. The company's accelerated sales process enables it to swiftly and efficiently sell large volumes of property in a way that minimizes expenses for sellers and maximizes return. Over the past five years alone, Hudson & Marshall's total sales have topped $1.2 billion and the company anticipates selling another 30,000 homes through 2009.

Five Charged in $70 Million 'Dream Home' Mortgage Fraud Scheme

A federal grand jury has indicted four defendants, and an information has been filed against a fifth defendant, for their participation in a massive mortgage fraud scheme that allegedly promised to pay off homeowners' mortgages on their "Dream Homes," but left them to fend for themselves, Assistant Attorney General of the Criminal Division Lanny A. Breuer and U.S. Attorney for the District of Maryland Rod J. Rosenstein announced today.

The indictment was returned on April 22, 2009, and unsealed today.

"The Criminal Division and the U.S. Attorneys' Offices are jointly committed to redoubling our efforts to uncover and prosecute fraud and abuse in all facets of the housing market - a market upon which so many American families have pinned their hopes and their futures for so many years," said Assistant Attorney General of the Criminal Division Lanny A. Breuer. "I want to assure the American public that we will not rest until the tide of this criminal activity is turned."

"The indictment alleges that the defendants used slick marketing to conceal empty promises," said U.S. Attorney Rod J. Rosenstein. "They convinced many victims to invest at least $50,000 by refinancing their existing homes or buying new homes at inflated prices, while claiming that Metro Dream Homes would repay the mortgages with revenue from profitable businesses. The indictment alleges that there was no revenue to pay the mortgage payments. Instead, the conspirators used some of the investors' money to repay earlier investors in the Ponzi scheme and spent the remainder on themselves."

"The effects of this wide-ranging mortgage fraud scheme are particularly disturbing within the backdrop of today's economic environment. With our federal, state and local partners working on 18 mortgage fraud task forces and 47 mortgage fraud working groups across the country, the FBI is committed to combating mortgage fraud and other financial crimes nationwide to protect the American homeowner and the national economy," said Executive Assistant Director Thomas J. Harrington, FBI Criminal, Cyber, Response, and Services Branch.

"IRS Criminal Investigation takes allegations of mortgage fraud seriously," said "Eileen Mayer, Chief, IRS Criminal Investigation. "These types of crimes drive home owners into foreclosure, erode the integrity of our tax system and threaten the financial health of our communities."

According to the indictment, from 2005 to 2007 the defendants allegedly used corporate names such as "Metropolitan Grapevine LLC," "Metro Dream Homes," "POS Dream Homes," and "POS DH LLC" (collectively, MDH) to target homeowners and home purchasers to participate in a purported mortgage payment program called the "Dream Homes Program." To participate, an investor had to provide a minimum of $50,000 for each home enrolled in the program, in addition to an "administrative fee" of up to $5,000. In exchange, the program promised to make the homeowner's future monthly mortgage payments, and pay off the homeowner's mortgage within five to seven years. Thereafter, the homeowner and MDH would own an equal interest in the home.

The indictment alleges that Andrew Hamilton Williams, Jr., 58, of Hollywood, Fla., was the founder and owner of MDH; Michael Anthony Hickson, 46, of Commack, N.Y., was the chief financial officer; Isaac Jerome Smith, 46, of Spotsylvania, Va., was the president; and Alvita Karen Gunn, 31, of Hanover, Md., was the vice president of operations. The information alleges that Carole Nelson, age 50, of Washington, D.C., was the chief financial officer of POS Dream Homes.

The indictment further alleges that Dream Homes Program representatives explained to investors that the homeowners' initial payments would be used to fund investments in automated teller machines (ATMs), flat-screen televisions that would show paid business advertisements, and "Touch-N-Buy" electronic kiosks that sold telephone calling cards and other items. To give the Dream Homes Program a veneer of legitimacy and financial success, the defendants marketed the program through live presentations at luxury hotels in Maryland, Washington, D.C., and Beverly Hills, Calif., among other locations. The defendants allegedly told some of the investors that they should not worry about the price of the homes or monthly mortgage payments because MDH would make mortgage payments on their behalf.

The indictment alleges that the defendants failed to advise investors that: the ATMs, flat-screen televisions and kiosks never generated any meaningful revenue; the defendants used the funds from later investors to pay the mortgages of earlier investors; and MDH had not filed any federal income tax returns throughout its existence. The defendants also allegedly failed to advise investors that their investments were being used for the personal enrichment of select MDH employees, including the defendants, to: pay salaries of up to $200,000 a year as well as their mortgages; employ a staff of 10 chauffeurs and maintain a fleet of luxury cars; and travel to and attend the 2007 National Basketball Association All-Star game and the 2007 National Football League Super Bowl, staying in luxury accommodations in both instances. Nor were investors told that investor funds were allegedly used to: pay off investors in a prior failed ATM investment venture that Williams had founded called Bankcard Group; make multiple donations of up to $50,000 each to charitable organizations to allegedly give MDH the appearance of being financially successful; and fund investments in third-party businesses that had not been disclosed to investors.

On Aug. 15, 2007, the Maryland Securities Commissioner issued a cease-and-desist order to Williams, MDH and other related companies directing them to immediately cease the offering and sale of unregistered securities in connection with their promotion of the Dream Homes Program. However, the defendants thereafter allegedly called additional meetings in which they made additional misrepresentations about the financial success of MDH's operations. On Sept. 4, 2007, the defendants filed a legal challenge in federal court in Maryland to the cease-and-desist order. The indictment alleges that at a hearing on Sept. 12, 2007, Hickson testified that the financial success of the Dream Homes Program did not rely upon new investor funds, when in fact Hickson knew that the sole source of meaningful revenue for MDH was new investor funds.

As a result of the scheme, more than 1,000 investors in the Dream Homes Program invested approximately $70 million. When the defendants stopped making the mortgage payments, the homeowners were left to attempt to make the mortgage payments MDH had promised to make in full.

The four indicted defendants face a maximum sentence of 20 years in prison for the fraud conspiracy; 20 years in prison on each of the 15 counts of wire fraud; and 20 years in prison for conspiracy to commit money laundering. Hickson also faces a maximum sentence of five years in prison for making false statements. Smith also faces a maximum sentence of 30 years in prison for bank fraud arising out of his alleged misrepresentation of his income in order to obtain a bank loan to purchase a new Bentley automobile. Nelson was charged by information with money laundering, which carries a maximum penalty of ten years in prison. The indictment seeks forfeiture of the fraud proceeds, including $70 million.

An indictment is not a finding of guilt. An individual charged by indictment is presumed innocent unless and until proven guilty at some later criminal proceeding.

This prosecution is being brought jointly by the Maryland and Washington, D.C. Mortgage Fraud Task Forces, which are comprised of federal, state and local law enforcement agencies in Maryland, Washington, D.C. and Northern Virginia. The Task Forces were formed to promote the early detection, identification, prevention and prosecution of various kinds of mortgage fraud schemes. This case, as well as other cases brought by members of the Task Forces, demonstrates the commitment of law enforcement agencies to protect consumers from fraud and help to ensure the integrity of the mortgage market and other credit markets. Information about mortgage fraud prosecutions is available on the internet at http://www.usdoj.gov/usao/md/Mortgage-Fraud/index.html.

Assistant Attorney General Lanny A. Breuer and U.S. Attorney Rod J. Rosenstein praised the FBI, IRS - CI, the Maryland Attorney General's Office, Securities Division and the Federal Deposit Insurance Corporation, Office of Inspector General for their investigative work; and thanked Assistant U.S. Attorneys for the District of Maryland Jonathan C. Su and Bryan E. Foreman, who are prosecuting the case.

Guaranteed Home Mortgage Announces New Program to Help Its Branches Prevent Loan Fraud

Guaranteed Home Mortgage Company, Inc. (Guaranteed, www.ghmc.com), a national residential mortgage investment and banking firm, today announced the implementation of a new program to help its branches prevent fraud from prospective borrowers.

The program consists of a series of tools, techniques and procedures to confirm identities, verify asset value and tax filings, and utilize fraud profiles -- all designed to supplement the company's continuing emphasis on "zero tolerance" for any errors in compliance and documentation requirements.

David Wind, President of Guaranteed Home Mortgage Company, said, "Our new fraud program will protect our branches from applicant errors as well as intentional misrepresentations. Our mantra of zero tolerance assists residential loan applicants, too, by assuring first-time approval of loans in compliance with the most recent, and stringent, mortgage-loan regulations."

Wind went on to describe some of the components of the fraud program. Every appraisal is subject to review through an automated valuation model (AVM); tax verifications through the IRS are conducted on every loan; multiple ID forms are completed for all prospective borrowers; and a vendor web site evaluates applicants' incomes in relation to their industry.

Other steps include visiting an HUD web site for background checks prior to submissions for an FHA loan, and the use of an industry system to evaluate the risk factors for transactions.

Guaranteed Home Mortgage Company also applies a very high standard for its branches. In-depth background checks are conducted on new Guaranteed employees through Lexis, and all branch managers must complete an online web course titled "Fraud and Deterrence."

Wind concluded, "There's a reason why we've been in business over 15 years in a highly competitive industry. Delivering value through proactive programs and the finest support services makes our organization the gold standard for everyone else in the field."

Over 400 Foreclosed Homes in Ohio and Pennsylvania Up for Auction

As foreclosures continue proliferating across the country, buyer demand for these properties is also growing because they can be purchased at a discount. For buyers who were shut out of the housing market during the boom years of escalating home prices, foreclosures make homebuying affordable. Real estate auction firm Hudson & Marshall will auction over 400 bank-owned foreclosures in cities throughout Ohio and Pennsylvania April 20th - 26th. About 80 homes will be auctioned in Cleveland on April 25th.

According to RealtyTrac, foreclosure filings nationwide ballooned to 341,180 in March 2009, jumping 45% from a year ago. Ohio reported 12,611 filings in March, ranking 11th with its foreclosure rate, one of the highest among the states. Pennsylvania reported a total of 4,943 foreclosure filings for the month, earning it the 32nd spot.

"Over the past two years, we've seen the crowds steadily increase at our bank-owned foreclosure auctions because people have begun to realize they can get purchase property quickly at a great value," said Dave Webb, principal, Hudson & Marshall. "Because auctions sell large volumes of property at one time, we're able to help cities reduce the number of vacant homes dragging down property values and bringing blight to neighborhoods," added Webb.

The homes up for auction come with a clean, insurable title paid for by the sellers. Buyers will be required to make a $1,000 deposit with a certified check or cash on each property on which they are the winning bidder. Before the auction, buyers should try to get pre-approved for a loan so they know how much they can bid on a property.

All homes being auctioned by Hudson & Marshall are sold "as-is" and buyers should inspect properties before placing any bids. Buyers may contact listing agents to make appointments to view homes. Complete property details and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172.

Homes will be auctioned on the following dates:

April 20th - Cincinnati (32 homes) at 7:00pm-Cincinnati Marriott Northeast

April 20th - Chillicothe, OH (6 homes) at 1:00pm-Comfort Inn Chillicothe

April 20th - Mansfield, OH (11 homes) at 1:00pm-Holiday Inn Hotel & Suites, Mansfield

April 21st - Toledo (38 homes) at 7:00pm-Hilton Garden Inn (38 homes)

April 21st - Dayton (47 homes) at 1:00pm-Dayton Marriott

April 21st - Stroudsburg/Scranton (22 homes) at 7:30pm-Hilton Scranton & Conf. Center

April 21st - Philadelphia (19 homes) at 1:00pm-Hilton Garden Inn-Philadelphia/Ft. Washington

April 22nd - Columbus (35 homes) at 7:00pm-Columbus Airport Marriott

April 22nd - York, PA (11 homes) at 7:00pm)-Holiday Inn Harrisburg

April 23rd - Pittsburgh (34 homes) at 7:00pm-Pittsburgh Airport Marriott

April 24th - Youngstown (30 homes) at 1:00pm-Holiday Inn Youngstown South

April 25th - Cleveland (81 homes) at 1:00pm-Cleveland Airport Marriott

April 26th - Canton/Akron (47 homes) at 1:00pm-McKinley Grand Hotel

Prior to auction, buyers can purchase property online by visiting the website and clicking on the Bid-Now icon. Sellers typically respond to offers within 24 hours. This is a reserve auction, which means sellers have the right to accept, reject or counter any bid; however, in past auctions conducted by Hudson & Marshall, the majority of offers have been accepted.

Having sold over 70,000 homes for sellers in the past eight years, Hudson & Marshall of Texas, Inc is the most experienced, trusted leader in the REO auction industry. The company's accelerated sales process enables it to swiftly and efficiently sell large volumes of property in a way that minimizes expenses for sellers and maximizes return. Over the past five years alone, Hudson & Marshall's total sales have topped $1.2 billion and the company anticipates selling another 30,000 homes through 2009.

Fort Lauderdale Blog to Feature "Deal of the Week" Program

One of the top real estate blogs in the industry today will provide a great guide on the best foreclosed deals in the property industry as featured on their site. Beginning this week, the Fort Lauderdale Real Estate Blog will feature the best foreclosure deals on the market in its "Deal of the Week" program.

The Fort Lauderdale Real Estate Blog is a top-rated real estate website operated by Robin Sing-Cunningham, a Fort Lauderdale-based Realtor who specializes in foreclosures and short sales.

The "Deal of the Week" promotion will feature foreclosed homes for sale that may be purchased at a substantial discount - some at prices 25-40% or more below market value.

The program will provide Buyers with property information including pictures and videos. An interesting feature that Buyers will like is the offer strategy section where local experts tell you how they would structure an offer on the home.

"Buyers are always asking me how to find the best deals and how to structure an offer. In this great Buyer's market, we are providing a platform for Buyers to see the best deals and to see how local real estate experts would put the deal together," said Sing-Cunningham.

South Florida is a Buyer's paradise. With nearly 60% of the homes sold in the area being in some stage of foreclosure, it's actually a very competitive market. However, most Buyers who are interested in a foreclosure never see the best deals.

"Many agents got caught with their pants down when the foreclosure tsunami hit," said Barry Johnson of Real Estate Radio USA, a top-ranked real estate talk show and industry blog.

"When Robin approached us about helping with this promotion we felt it was a no-brainer as our listeners and readers always ask us how to find the best deals," Johnson added.

A big incentive for participating in the "Deal Of The Week" promotion are the cash and prizes. If a Buyer purchases any of the homes featured they will receive a minimum of $1,500.00 at closing as a rebate on their purchase. They may also receive various prizes ranging from dinners at exclusive restaurants, to sport fishing trips to Caribbean vacations.

"I haven't seen many agents offering these types of incentives and I wondered why? This is a Buyer's market and we have to show these Buyers that we appreciate and want their business. To me, it's all about separating yourself from the pack and offering unparalleled customer service," said Sing-Cunningham.

In an effort to make sure that each Buyer receives high-quality customer service, Sing-Cunningham has assembled a team of real estate professionals to provide any Buyer with complete peace of mind.

Erik Wesoloski, a Miami-based attorney with the law firm of Wesoloski Carlson, P.A, who specializes in foreclosures, says that this is an idea whose time has come. "Most agents don't have the expertise to help a Buyer navigate their way through the possible land mines associated with buying foreclosures.

"There may be hidden problems that can cause a deal to fail or a Buyer to incur certain liabilities. We are happy to be a part of Robin's team to make sure that her Buyers don't have any problems with their purchase."

If you would like to view the Fort Lauderdale Real Estate market "Deal of the Week", simply go to the Fort Lauderdale Real Estate Blog at http://www.robinashley.com and check it out.

Source

LowerMyAssessment.com Aids HomeOwners with Problematic Property Taxes

People who are having problems on the proper assessment of their property taxes get a reprieve as LowerMyAssessment.com will make it easier for residential property owners to appeal inaccurate property tax assessments. Our mission is to empower homeowners by providing all of the necessary forms, valuation assistance and knowledge to maximize the chance for a successful outcome. We have created a user-friendly website that quickly and efficiently determines if an appeal of assessed value is in the property owner's best interest.

Due to current economic conditions, residential property values have declined in many areas, some significantly. The tax assessment cycle can take considerable time to adjust to current market conditions. As a result, many property owners pay more than their fair-share in property tax, sometimes for years. According to the National Taxpayers Union, only 1/3 of property tax appeals succeed. Obtaining costly appraisals, filling out numerous, complicated forms, and filing the appeal quickly enough to meet short deadlines discourages many taxpayers.

LowerMyAssessment.com takes the guesswork and expense out of filing your property tax assessment appeal.

LowerMyAssessment.com's proprietary FairValue Calculator guides site visitors to enter a property address and click "Check Your Value for Free". Within seconds the property's fair-market value is compared to the assessed value, determining if the property is fairly, over, or under-assessed. Qualified property owners register, answer several questions, and purchase our FairValue Report using our secure check-out. The report provides the completed forms required by their taxing authority and a market-approach valuation report. In most cases the client simply reviews, signs and mails the forms to their local assessor or board of equalization to obtain a review or hearing.

When every dollar counts, LowerMyAssessment.com helps homeowners save money. Property taxes are a major expenditure for most households; yet, unlike income and sales tax, most taxpayers have little understanding how they are calculated and what steps can be taken to minimize them. LowerMyAssessment.com helps homeowners take the important first steps towards a lower property tax bill.

LowerMyAssessment.com is honored to be chosen as one of the companies selected to present at the FinovateStartup09 conference on April 28 in San Francisco.

RealtyRight.com Announces April as Free Loan Modification Month

For sure, there are a lot of real estate loaners in distress and for that matter, RealtyRight.com has decided to go easy and offer an indirect form of extension by announcing April as Free Loan Modification Month.

In explaining his decision to extend the offer of free complete loan modification services through the entire month, Mr. Taylor said. "With tax time bearing down on homeowners, plus the many other issues they face, especially those in need of loan modification help, we decided it would be in everyone's best interest to extend the offer to include the entire month. This way people can catch their breath a little after April 15 and still take advantage of the offer."

The offer is for more than a free consultation which, explains Taylor, is another reason for the extension. "Offers to provide free consultations are all over the place in the newspapers and Internet. We've yet to find anyone offering free, soup to nuts, loan modification representation and consultation. It's easy for a homeowner or Realtor to get confused and assume we're offering only the consultation. We want to give the totality of the offer a chance to sink in."

The April is Free Loan Modification Month offer ends midnight April 30, 2009. Realtors interested in offering free loan modifications to homeowners in their communities are invited to visit RealtyRight.com for details.




(Source) PR Web

German Government to Bail Out Hypo Real Estate Group

The German government may make an offer for Hypo Real Estate Holding AG, the bailed-out commercial property lender, by the end of the week as it moves closer to the country’s first bank nationalization since the 1930s, three people close to the matter said.

Germany’s bank rescue fund, Soffin, will bid as early as April 9 to gain a majority holding in the Munich-based lender, said the people, who spoke on condition of anonymity. The state may offer as much as 1.28 euros a share, the people said, or 12 percent above today’s closing price in Frankfurt trading.

The government acquired an 8.7 percent stake in Hypo Real Estate last month as a first step toward taking control. The company received 102 billion euros ($136 billion) of credit lines and debt guarantees from the state and financial firms after a funding shortage at its Dublin-based Depfa Bank Plc unit last year nearly led to bankruptcy.

“The government is under some time pressure because the bank needs to be kept above water,” said Dirk Becker, a Frankfurt-based analyst at Kepler Capital Markets, who recommends selling the shares.

German daily Boersen-Zeitung reported earlier today that the government may make an offer this week.

(Source) Bloomberg

Apartment Finder Announces Online Partnership with Leading Online Real Estate Classifieds Network, OLX.com

Apartment Finder today announced another online partnership to publish its apartment rental listings on the web. Its newest partner is OLX.com, a leading online real estate classifieds network, and through this alliance, Apartment Finder will deliver greater online exposure and leads for its advertisers to the millions of apartment shoppers in the 84 countries that OLX.com serves.

“We understand how vitally important it is for consumers to interact with our advertisers’ listings when they are shopping for an apartment,” says Marcia Bollinger, president, Apartment Finder. “That is why we look for every opportunity to help make that connection, especially on the web. Our partnership with OLX.com allows us to offer our advertisers exposure to millions of additional apartment renters while enhancing the online search experience for home shoppers.”

This agreement will expand OLX.com’s property listings to include thousands of apartment rental listings from Apartment Finder. All advertisers of Apartment Finder will now have their rental listings published on OLX.com, which features user-friendly search options for apartments by location, number of bedrooms/bathrooms, square feet, furnished/unfurnished, and more.

Apartment Finder is the anchor of the multi-family division of Network Communications, Inc., the largest publisher of print and online housing information in North America. Apartment Finder’s print and online products provide the latest information about apartment rentals to millions of consumers around the country, while offering a comprehensive and targeted integrated advertising solution for multi-housing professionals. The fastest-growing media platform in the multi-family industry, Apartment Finder publishes books in 114 markets across the U.S. and operates www.ApartmentFinder.com, the #1 consumer-preferred site featuring state-of-the-art searching and mapping features for apartment renters.

OLX.com is the third partner in 2009 to join Apartment Finder’s ever-growing online distribution network. Other online alliances inked this year include Vast.com, the leading vertical search platform for real estate and The Atlanta Journal-Constitution’s AJCHomeFinder.com, which provides apartment listings for renters in Georgia, Alabama, Florida, Tennessee, North Carolina and South Carolina. These new partners join a number of established partnerships, as Apartment Finder continues to build its network.

Source

BigBidders.com Sells Real Estate Backed Notes

It seems like a different approach but if it works and promises business, then why not? As institutions desperately search for a solution to effectively sell their toxic assets and maintain critical liquidity, the first-ever online auction marketplace of individual Notes, BigBidder.com, boldly enters the scene.

Developed by the LFC Group of Companies, BigBidder.com spent two years in development led by a stellar team of mortgage industry professionals who recognized that the liquidity crunch in the secondary markets offered an opportunity to provide sellers with more control over their transactions, sales velocity, and better prices.

“Since launching, sellers have enthusiastically welcomed our site,” says LFC Senior Vice President of BigBidder.com Paul Lyons. “The idea of selling to an increased pool of buyers, avoiding the usually long, tedious and costly sales process and getting better prices has them commenting, ‘This is exactly what I needed.’”

BigBidder.com, an unconventional business model for buying and selling Notes, allows individual investors and smaller investment groups access to specific information and supporting due diligence documents prior to purchase, eliminating the all-too-common “due diligence kick out.”

BigBidder.com is a powerful business tool that gives sellers complete control over their transactions by allowing them to name own terms of sale and minimum sales prices on a Note-by-Note basis, and receive valuable market feedback through the transparent bidding activity.

(Source) BusinessWire

People Still Looking to Buy New Home Despite Recession

One would think that people would no longer consider buying their first home due to the economy. But based on a study, there are still people who plan to get one at the right price that fits their budget. While half (52%) of all Americans are concerned they or someone they know will face foreclosure in the next six to 12 months, 23% of adults plan to purchase a home in the next five years, and more than half of them (53.5%) are first time homebuyers, according to a new survey commissioned by Move, Inc., the leader in online real estate and operator of Realtor.com(R), the #1 homes for sale Web site.

The Move survey also found nearly one out of five homeowners (18.9%) plan to take advantage of the administration's new program to help prevent foreclosures. While searching for answers in the past 12 months, 21% of all homeowners with a mortgage contacted a lender to restructure their loan. Half (10.6%) of those homeowners that contacted their lender experienced success while 5% still await an answer.

Unemployment is a driving factor causing many Americans to fear foreclosure, according to the survey. More than a quarter (27.1%) of adults feel they or someone they know may default on their mortgage due to recent unemployment (27.1%), future unemployment (29.3%) or because they owe more on their home than it's worth (25.6%). One out of eight (15.4%) is having a hard time making mortgage payments because they've recently increased or because they have too much debt (18.8%).

Determined to remain in their homes, nearly three-quarters (72%) of adults reduced spending in the past year in order to make monthly mortgage or rent payments, mostly by cutting discretionary spending such as vacations, entertainment and eating out (75%), personal items such as clothing, personal care and personal luxuries (72%) and energy costs such as gasoline and utilities (71.6%). Regardless of age, most Americans are cutting spending back from some aspect of their life to pay housing costs.

"It's not all doom and gloom. We found Americans are optimistic about homeownership despite concerns," said Move, Inc., CEO Steve Berkowitz. "They're doing everything they can, from reducing discretionary spending to pay their mortgages, to planning to take advantage of the administration's new program to stop foreclosures. They're also working with lenders to modify loans. Even more impactful are numbers that show interest in home ownership is strong as nearly a quarter of all adults plan to buy a home in the next five years."

Source

Luxury Condo Auction Draws Interest in California

Despite the recession and financially hard times, some folks are heading over to Newport Beach, California to check out The prospect of buying a home by auction for a fraction of its previously selling price.

As the builder closeout auction of the last remaining units at Brava, a Palm Desert gated community quickly draws to a close; excited buyers scramble to visit the properties, secure financing and develop their strategy to ensure a successful bid.

Since its mid-December launch by the LFC Group of Companies, a leading online real estate auction firm, the Brava condo auction on the Freedom Realty Exchange(R) website www.FRE.com has steadily seen over 200 people a week visiting the community.

This magnitude of the response is amazing in good economic times, but is nearly unheard of in this current housing climate. Vincent Barbato, one of the Principals of Brava's home builder, Family Development, notes with amazement: "Even back when we first put Brava on the market we didn't see this kind of a turnout. Having hundreds of people each week is an incredible feat, something that's really creating a buzz. People just can't believe that at a time like this we are getting so many interested visitors."

Brava is a luxury gated community featuring unique architectural design, inspired by the charming, rustic villages of Tuscany. With an ideal location at the prominent crossroads of Country Club Drive and Monterey Ave., Brava lives up to the area's impressive standards by offering numerous amenities, all of which encourage a healthy, active life for residents. Two pools, a clubhouse, a fitness center, "Toscana" paver streets, and immaculate landscaping all afford residents the opportunity to live a truly Southern California, country club lifestyle without the exorbitant association costs that most Palm Desert communities demand.

The 17 condominiums ranging in size from +/-1,865 to +/-2,200 square feet, feature gourmet kitchens equipped with stainless steel appliances, a cooking island, and full pantry, spacious living areas, and 2-3 bedrooms.

Situated in the center of the Coachella Valley, Brava is close to countless golf courses and resorts, as well as impressive mountains and lakes, local restaurants, shopping centers, and cultural centers.

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Store it Flexibly with LiquidCardboard Solutions

At times in your home, you have the problems of placing things in one holder or another just to avoid seeing them spilled over your desk or the room floors. The problem is what do you use? Old cans? The trusty pencil and pen holder or just stack it up anywhere. The issue is sometimes concerned with size and accommodation but all that has been covered if you use this eco-friendly solution for better organization called the “LiquidCarboard”.

Check out the video for potential solutions to your home storage needs.

“Cardboardesign products combine a cool-looking aesthetic in durable, non-toxic, earth-friendly furniture.” She continued, “A perfect choice for any green’ household, Cardboardesign combines ‘high style’ with ‘eco-friendly’…it’s furniture that is fun and functional!”

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Keep Bad Spirits Away with a Pakua

Are you superstitious? Do you believe in bad luck entering your home? Well if you are, chances are you may want to consider placing a Chinese symbol at your doorsteps or any door of your home to make sure you are safe.

The Pakua has long been known to protect and ward off spirits from entering your home. Bad luck is said to be brought into homes by bad elements entering your home. And we are not referring to people but the supernatural.

Chinese Feng Shui is now being used by most people when they put up homes. It normally includes the position a room is facing or where the house is situated. While you are at it, add that Pakua to the mix if you want to be fully secure as far as warding off the bad omens from entering your home.

Light Up Homes with Candles during Christmas Time

Treat your home right this Christmas. While we cannot stop most home owners from using their appliances and Christmas lights extensively, perhaps some moments of using candles in key moments while at home can really spice up the old style ambiance that Christmas really brings to our homes.

Scented or not, candles can really churn your home and make it into one cool habitat and by checking out the home interior specialist stores, you can secure such candles at proper times deemed fit for your pad.

Here are some good stores where you can check what candles are right for your home setting.

1. Yankee Candle
2. Zionsville Candle
3. Candlemart
4. HomeGoods
5. Pottery Barn
6. Anthropologie
7. Target
8. Candelicious
9. Kmart
10. Illuminations
11. Pier 1
12. Love to Know
13. Cierra Candles

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Are you Happy with Housing Prices Falling?

If you haven’t noticed or read the news, it has been reported the house prices are falling rapidly and this is due to the impending crisis that has pulled the real estate market as well. Is this good or bad?

It is good if you are the consumer that has saved and would want to get your own home. The time to finally purchase that dream house is now and you have the luxury of choosing what you want. So as far as people are concerned, good housing at these lowered rates is an opportunity that many have longed for, even before they started escalating towards inappropriate levels.

On the other hand it is bad for the economy since it means that our businesses are dropping and the developers are destined to lose a lot. It can also mean inferior use of materials for living as the best way to drive down the cost is to turn towards alternative raw materials to help ease the burden of potentially devastating losses in the real estate development process.

So as a consumer, it is a good thing but for investors, it may be bad. Depending on which side you are on, it is a reality you just have to love or hate.

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Housing Bailout or Home Price Manipulation?

We have been hearing financial bailouts being spread as far as the world of business is concerned but what about their branch concerning real estate and properties? People are in need of assistance too and surely many of them are in danger of losing their homes if no form of assistance is extended to mortgage problems.

Surely it seems that all walks of life are in need of bailouts. But while the monetary funds have been released, it is curious to note that these requests are short of saying to the government “Please Help Us All!”

Why? For one, you can just recall that one of the problems that contributed to the financial debacle of most financial groups are bad debts coming from mortgages and unsettled loans. So if the government should help, would it not look weird to save the banks and then save the people in need of assistance as well?

For sure more light on this matter of housing bailout will be talked about in the next couple of days. But for sure, it doesn’t take a genius to notice that housing bailouts seem to be asking too much although it does not necessarily cover all.

"The last thing we want to do is manipulate home prices," said Paul Willen, an economist at the Federal Reserve Bank of Boston, and co-author of a recent study showing that foreclosures are following an historical pattern, not causing an unprecedented death spiral. "They need to find a level where homes become affordable, and buyers return."

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How to Find the Right Apartment

For people who are in the market for new places to live in, monthly rentals are surely one of their main concerns. Although you will not know what the actual rental rate of a certain apartment or condo unit would be until you call, you can really assess and gauge if it is within you budget depending on how long it remains vacant.

Some apartments for rent that are good and fair priced are bound to be immediately taken. But one thing you have to note is associating the actual apartment size with the asking rate. The lessors are bound to be open for negotiating the monthly rate but don’t expect it to be drawn down to levels that can match your budgeted rate for living.

Here are some tips on spotting crazy rental rates:

1. Assess the time it remains vacant. The longer it is, the expensive it is bound to be.
2. Survey the location. There has to be a reason why it takes some time for a place to be rented. It could be haunted or there may be issues such as constant flooding or even robberies.
3. Ask around and evaluate the neighborhood. When renting, you don’t have the privilege of security most of the time. Consider the people living in the area and on whether you can co-exist with them.
4. Check out the amenities. There are some lessors who do not take into consideration issues like plumbing or renovation. Some of these apartments have been up for some time and if they are not maintained, you may end up living in a minefield waiting for disaster to happen.
5. Do a Landlord Background Check. If you have the resources to check around on the lessors history, do so. It would be best to know the type of landlord you will be having.

Colored Carpets Based on your Room Theme

It is the dream of any home owner to implement the perfect blend of paint and the elements in a room but the problem with some is that they are hard to come by. Never has anyone found a perfect blend of mixing paint that matches rug color to perhaps walls and entire room furnishings such as the bed, cabinets and tables until Wear-Dated came along.

“An important aspect of our color forecasts is that a consumer can use them to create their own color palette,” says Ann Hurley, creative manager for color and product for Wear-Dated carpet fiber. “We want consumers to infuse their homes with color, and we hope that our tools inspire them.”

So now that Wear Dated has surfaced, home owners who remodel or are in the stages of designing their own homes have lesser things to worry about. Check out Wear-Dated and throw those colored worries away!

(Source) PR Log

Surplus of Homes Building in Cottesloe, Dalkeith and Peppermint Grove

The rise in number of unsold homes in the real estate market is not really surprising. For one, who can afford to gamble and invest at this time considering that the economy is in one of its worst stages since some centuries back. Rather than commit yourself to paying a monthly amortization, people today are apparently becoming wiser. Make do with what you have and hope for the best. Things are bound to get better once all these financial turbulence settles down.

There are of course some people who are wishing that the interest rates and the price set for these properties would fluctuate in a downward manner. Lowering prices to affordable ones may be a home wisher’s dream. But that is unlikely to happen as covering the costs of building one home or condo unit is bound to conquer all these wishful thinking. The fact remains, they can just be left unsold.

One can just look at the 130 homes in Cottesloe, Dalkeith and Peppermint Grove. They are apparently sitting their and left to rot. Unless something significant hits the real estate market, this is a clear image of what to expect in most parts of the world.

“People in those areas tend to be more exposed (to a financial downturn) so they may be looking at rationalising their assets or downsizing.

“A lot of people may have been holding off and are now realising the market’s not going to go up further.”

Source

Jessica Alba Models House the Eco-Way

Jessica Alba, a popular actress who is certainly someone who can afford a lot of the high-priced furniture and home furnishings today, is someone whom you would least expect to go for used items. But considering two hot topics today involved ECO, eco-friendly and economical, she is modeling her new home according to the logical way of living.

Apparently, she is thinking wiser. Old stuff placed in homes such as antiques to which people seem to be throwing away on sales is a common trend. But as they say, one’s trash is the gold of another and that is how most of the furnishings Alba has today has gone so far.

Interior decorator Kari Whitman scours antiques store, flea markets and a client's existing inventory before even thinking about new furniture. "The craftsmanship is often better in older pieces," says Whitman. "For Jessica Alba's house we bought almost every piece used."

(Source) InStyle

Renovate your Home the Eco-friendly Way

One of the wonderful things about all of the attention that the environment has received recently is the fact that eco-friendly living has been at the top of the minds of many of the people around. For that reason, eco-friendly lifestyles have started to become considerations of major corporations and that in turn has led to a lot of them cleaning up their act and becoming more eco-friendly in the way they do things. They’ve also started making eco-friendly products, which in turn have made it easier for people to lead eco-friendly lifestyles.

One example of that is renovation. Renovating your home used to be one of the most wasteful activities you could engage in because of all of the materials you didn’t recycle and then all of the materials that you used up afterwards. However, nowadays there are tips for maintaining a lot of your house instead of renovating it as well as a number of tips on materials and techniques that you can use for an eco-friendly renovation. There are many different websites that have articles on this topic, but Scotiabank has certainly got a good one with their “Eco-Friendly Tips for Renovating your Home.”

Rise in Apartment Rentals Looms

Thanks to the celebrated foreclosures and failure to pay mortgages going around in the whole world today, what alternatives does a person have as far as being able to get a decent place to live these days for him and his family? The answer is quite simple…RENTALS.

Just like the traditional upstart yuppie, not all people are expected to afford the high prices in the millions for current real estate offerings in the market today. Normally, renting out an apartment or a condo unit is the first thing to do, trying to set aside savings from daily income for the meantime.

But there are people who thought that they could do the same, paying mortgages in installment and then settling their mortgage debt in about 25 years or depending on their agreement with financial institutions. Apparently some have failed. This has become a significant part of why groups as Lehmans Brothers and Morgan Chase are in the red. Due to unsettled debts and the controversial declaration of individual bankruptcy, many of these borrowers got off the hook and the government’s bailout plan aims to overrule this area.

This is why I view the bailout plan a high risk move. It is bad as an economic analysis is concerned. While you are helping banks and financial institutions from their debt drowning problems, you are also promoting further damage for incapable people to invest and not worry about failure to settle their financial obligations to the bank.

The financial economy is indeed falling and while the intentions on the outside feature of this financial bailout by Bush and his government is mean to do good, it is really causing more harm. So who is to blame? The credit departments of these financial institutions perhaps? Who else? They are responsible for approving loans are they not???

Kitchen Enhancing Ideas from the 2008 Design Lab Competitions

Electrolux has long been known as among the leaders in appliance solutions for the home and at the 2008 Design Lab Competition which showcased some fancy designs from undergraduate and graduate students in industrial design that can be future home kitchen appliances that are sure to hit the market.

Here are some of the Finalists:

1. The Flatshare Fridge from Austria by Stefan Buchberger

2. The Drawer Kitchen from Korea by Nojae Park

3. Sook from USA by Adam Brodowski

4. The IBasket from China by Guopeng Liang

5. Stratosphere from Hungary by Atilla Safrany

6. Vesta Cooktop from Germany by Matthias Pinkert

7. The Coox from France by Antoine Lebrun

8. The Scan Toaster from South Korea by Sung Bae Chang

9. The E-bag from Hungary by Apor Pupsoki


(Source) InventorSpot

Is Real Estate to Blame for Financial Gloom?

Read about it anywhere and it seems that the real estate business is a key reason that you will see on why we are in the economic crisis we are in today. With tons of receivables and people drowning in debt for failure to settle their monthly amortization, who can blame these big companies for filing bankruptcy or Chapter 11 due to inappropriate funds to continue operations?

Well, in the end, we only have ourselves to blame. How do we get approved loans if we are truly incapable of settling them on a monthly basis? People are witty. They forge required documents such as their gross annual income or other proof of billing and/or proof of actual income generated. This practice is done worldwide and unless there are good credit investigators commissioned to do the usual background check, chances are they will get away with it.

But most of that is in the past and now we are all in a big mess. The financial problems continue to compound our economic outlook. Will it be remedied? Well hopefully so. If not, only God knows what the future will hold for us and I am not only talking about the real estate business!

Desperate Real Estate Selling Tactics

We all know that in the real estate business, closing a sale is essential especially if you are commissioned based. But I find it stupid to see people standing in the middle of the road, handing out fliers to vehicles passing by them with the hope of making that big sale. For one, did they ever stop and think on whether the people in their vehicles would pull down their window just to get a flyer from them?

Pathetic marketing is what I would term it. Apparently, it is either they are not thinking or it is originating from some crazy idea that they can get a sale by being that aggressive. But being aggressive can be defined in many ways and that is surely not an aggressive way of marketing and closing a sale.

Secondly, it is obvious that these people fail to define the market that they are catering to. The only people who may eventually grab their flyers are the Class B market. Considering the hard times we have today, do you honestly think that these commuters can afford such high-priced investments even if you convince them that this is for their future?

The name of the game today is survival and being able to cope up with financial burdens is something that many find hard. So with that in mind, perhaps it would be best to think the marketing strategies that desperate real estate companies are employing right now. For areas such as Mandaluyong and San Juan City in the Philippines, owning your own property is one thing but the manner and timing of consummating that sale is obviously facing the wrong direction!

Eco-Renovate your Home

Rather than move or give up on your home, you can always renovate. You don’t have to worry about the harmful chemicals used in paints and home improvements of your interiors, there are eco-friendly options you can turn to as far as the interior designing enhancement of home interiors are concerned.

Whether it is your bedroom, kitchen or the living room, the normal recourse would be to turn to wallpapers or repainting. For both instances, you can check out the eco-friendly solutions that home improvement companies have at the moment. If you are in doubt, there are people like Justine Potts who can show you the way.

When Justine Potts set up Market London, a renovation and interior-design service in 2006, the property market was booming and most of her clients were looking to move. For a fee, Potts, who has an architectural background, would tell them what to do to their homes to maximise the amount of money they would fetch. What a difference two years make.

“When I first launched the company, it was 100% people wanting to sell,” says Potts. “Now it’s 100% the other way round. Even when it comes to setting a budget, people are looking at how much they would have spent on stamp duty and legal fees to move and are spending that.”

(Source) Times Online

Aaron Spelling's Widow Transferring to $47 Million Condominium

For millionaires and celebrities who have been used to the living large syndrome, you would be surprised at how they could adjust towards the cramped living of condominiums if they had to. In fact, some people who have been living in big homes with their families are known to have a difficult time to live on their own in apartments and condominiums so you have to wonder how big names could possibly fit in to the modern shoebox homes these days called condominiums.

But for Candy Spelling, the widow of television producer Aaron Spelling of Charlie’s Angels fame, she has declared that she is ready to give up living her manor for a $47 million condo. Whoa! If that is the price for the condo, you have to wonder what would be included in that eh? Also, how much could The Manor be worth right now?

For some people, it goes way beyond living filthy rich. Companionship is one issue. If you are a widow and living in a big house, who could be there to hear you or you could talk to?

This is perhaps one reason for her decided shift. It is great to live in large homes but with no one to share it with, it is totally worthless.

“People say, How can you move from The Manor? There’s no place like it,” Mrs. Spelling said, sitting in the library with leatherbound scripts of every episode of Mr. Spelling’s shows, from “Charlie’s Angels” to “7th Heaven.”

But a condo, she said, “is no different than a house, maybe even better.”

Mrs. Spelling is the most conspicuous buyer in an ultraluxury condo market that is new in the sprawl of Los Angeles, where wealth and fame have usually spelled out “estate,” not apartment living. But real estate experts say a New York-style luxury high-rise lifestyle is creeping into the wealthiest echelons, fed by trends like people looking to own more than one home, foreigners drawn by the weak dollar to invest in Los Angeles, and new residential buildings being designed by celebrity architects like Robert A. M. Stern, Richard Meier and Jean Nouvel.

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Leather Up your Old Furniture

One thing about old furniture, modern designs these days come in class if they are in leather. Most of us may have a couple of sofas or even lazyboys around and one thing you will notice is that it is hard to maintain them. Leather is not easily washable and if you are not careful on upkeep, chances are they will easily dilapidate in quality.

But thanks to new ideas and concepts, you can always turn to leather covers to liven them up again. For the normal leather furniture, this is a good option. On the other hand, if you have been using that traditional cloth linen to protect your sofa or couch, why not upgrade it to these leather covers? Not only are you spicing up your furnishings but you are also upgrading to the modern design concepts that everyone is gearing to.

Source

Prime House and Lot For Sale in Mandaluyong, Philippines

A prime house and lot, 5 years old, is being sold in the area of Mandaluyong Philippines. The property is situated in one of the prime spots of Mandaluyong City, Philippines and is being offered at PHP 20 Million (negotiable).

Specs:

1. Lot Area: 212 SQ/M
2. Floor Area: 267 SQ/M
3. 4 Bedrooms
4. 4 TB
5. 2 Car Garage

email: byalung@gmail.com the Letter of Intent or for site visit scheduling 3 days in advance.

Luxurious Cosmovoide Bed

We have seen a lot of bed concept and ideas but the Cosmovoide bed has to take the cake. If you were a fan of the 80’s TV series Mork and Mindy, this bed capsule design is sure to be a familiar site. Equipped with various multi-media gadgets and technology features, this bed will certainly be something to behold for people who can afford it. It is estimated to be worth around $60,000.00 which may as well limit this bed design to people who have LOTS of money to spare.

Their luxury bed is shaped like an egg (to either give you Morkian dreams, or wrap you up in cozy cosmic harmony or some such nonsense), has hammock-like suspending springs, seven rainbow-coloured LEDs, a telephone, and a DVD/home theatre set-up including a TV at its foot. Most fascinating? Its twin "electric relaxation bed frames," which just get the mind boggling. That price is the base model, by the way: it's customisable, according to its crazy French manufacturers.

(Source) Gizmodo

Future Condo Designs From James Bond

Each time we see a James Bond movie, there is something bound to astound us as far as gadgets and places are concerned. Being an action flick, we do not normally see a home where 007 would stay in. But the funny thing is that at some point of the film, especially the love scenes with his leading ladies, we see futuristic room designs that can really push a person to think of his pad.

Check out these photos from Pierre Cardin’s place which is sure to bring you back memory lane. These designs are certainly familiar “The Spy Who Loved Me” which had Roger Moore playing James Bond. A great concept for studio owners who want to design their pad in style.




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Former Star Sues Realty Company for Breach of Contract

Former NBA star Matt Geiger has reportedly sued Global Asset Holdings LLC for apparently failing to live up to its commitment to sell his property, a 28,000 square foot estate at 3385 Old Keystone Road valued at approximately $19.9 million. Geiger wanted to move to Tampa Bay with a more-family oriented atmosphere but all that seems to be lost with the failed transaction.

Originally, Geiger had received an offer of $15 million dollars for the property, but since he wanted to honor his agreement with Global Asset Holdings LLC, he rejected the offer.

Global Asset Holdings LLC opted out of the deal due to the prevailing market conditions. Talk about honor and commitment, I cannot blame Matt Geiger for suing the company. Just imagine the opportunity he lost in millions of dollars!

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Real Estate Falling Due to Stricter Borrowing Requirements

It was bound to happen. With world economy on the downturn, the apprehensive approval that most financial institutions and lenders provide for people wanting to invest in real estate has evidently become tighter. So as far as this trend is concerned, the real victim would be the real estate developers who seem to be in for an uncertain future as far as closing deals mostly based on financial structures through real estate loans and money borrowing.

This should not come to a surprise. Even in the other business sectors today, we see these financial capacity to pay as a main obstacle towards doing business. In short, most businesses are being careful on their collections and accounts receivables since the need to increase the allowance for bad debts of these companies is not a good sign for corporate operations.

On the real estate side, people have nothing to lose. They can still earn up and get that eventual dream home in the end. Apparently the only loss they have is the time element. For the real estate binge, it is about looking at investments simply lying there until the economy improves for the better.

(Source) Yahoo Finance

Renting Over Leasing

The hard times are evident and while having a home is practically everyone’s dream, you cannot help but consider the fact that renting is perhaps the cheaper alternative than the usual monthly mortgage these days.

We see mortgage rates practically double the typical rent expense we get today. The difference however is that when you lease, you are leasing to own. Renting is paying a monthly fee for shelter. But the real debate is can you handle the leasing cost over the rental cost.

Without a doubt, it would be better to lease. But consider the expenses you have to account for. Would you have enough in your pockets in the end? Such is a dilemma that people have to consider. Perhaps renting is a good alternative for the meantime that we are in crisis. It all depends on your personal budgeting and financing.

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How to Invest in the Right Real Estate Properties

Real estate is something that many people will definitely invest a lot in. However, the proper analysis, timing and considerations for property investments are a definite need.

Real estate investments are indeed something hard on the pocket and normally, people would be wise to think twice on using loans to help finance their desired investment venture.

Property and real estate investing is indeed a good recourse. However, it also needs sanity and maturity as far as investing in tempting properties is concerned.

Watch out for the Real Estate Scams

With a crisis-ridden world today, you are bound to encounter some con artists who will try to con you out of your money. Much of them prey the real estate business and mislead you. Not all people have settled the premiums of their homes and for sure, expect some scam brokers to come knocking on your door and give you options. Options for them to earn and steal away from you of course.

That is just the thing these days. You can no longer tell who are genuine and who are not. Mortgages and loans especially in the real estate sector has had its share of these scammers. So whether you trust you broker or not, be careful. You may end up losing more than just getting rid of back debts in mortgage bills for your home.

The most basic involves pushing on homeowners' phony documents that appear to be a new mortgage application. These are known as rescue loans which, if correctly represented, give a homeowner the cash to stave off a foreclosure. Instead, these false documents turn over the title.

A more sophisticated version of this scam involves a rent-to-buy provision. Here, a mediator matches a distressed homeowner with a management company that takes over the property while giving the homeowner the ability to become a long-term renter, with his rent paying down the mortgage.

(Source) Yahoo Real Estate

High Cost Real Estate Markets Today

Hard times are here and apparently much has hit the real estate binge. People are apprehensive of buying property these days and much of it is because they cannot afford it.

There will be of course loan options where you can borrow a certain percentage of the whole price of the property and pay in installments. But if you are the wise pencil pushing person today, you also have to manage your finances. One non-payment will incur penalties which in turn will become additional expenses unsolicited.

You will be surprised though that some countries like London, Monaco, France, and Hong Kong could care less about the crisis besetting us today. For them it is business as usual and while the turnover of these properties may not be that fast, they are willing to wait. They believe in their work and apparently someone will come along and buy these properties. Well…hopefully that is.

Despite global economic concerns, the credit squeeze, and rising commodity prices, properties in the world's most expensive neighborhoods are still commanding ferocious premiums. While $1.5 million in Cleveland or Tampa would probably purchase a substantial house, with four bedrooms, a multicar garage, and maybe even such amenities as a swimming pool and media room, in London's Belgravia or on Manhattan's Fifth Avenue, it would buy you little more than a glorified shoebox.

(Source) Yahoo Finance

Does the Philippines Care about Green Homes?

Green homes and living is famous word today but apparently some countries like the Philippines are not buying it. This third world country, apparently one of the leading Asian continents that is vastly suffering from poverty, knows how it is to live green but apparently is apprehensive on investing in it.

Much of this is pointed at cost. Not all people can afford the new green technology in the market today. Add to the fact that some of these green inventions are not available in third world countries just yet. These places are always the last to be updated except for technology breakthroughs.

With that in mind who is to blame? The leader of the Philippines or the Filipinos who seem to be lagging in development and better lives today?